The housing market is very different today than it was a few generations ago.
It's something that more and more Generation Y, 23- to 38-year-olds, are discovering first-hand every day, whether they're renting their first apartment or buying a second home.
Why is the housing market so different for Generation Y compared to that of their parents and grandparents?
This is largely because of rising housing costs, but also because of student debt with which many members of the generation are struggling. About 70% of recent college graduates graduate with an average debt repayment of $ 29,800, plus unavoidable interest.
Faced with these financial difficulties, it is not surprising that Millennials buy different types of homes and places different from those of their parents. And they buy under different circumstances, often they often wait longer, they buy before getting married or live with their parents to save money so as not to wait for years before accessing the property.
Here are nine surprising facts about the millennium housing market that put it in perspective.